LLP Form 11- LLP annual Filing
Table of Content
Due Date of LLP Form 11
Every LLP registered in India is required to file form 11 within 60 days from the closure of the financial year i.e before 30th May every year.
What is LLP Form 11?
Annual return or Form 11 is a summary of all the Designated partners like whether there are any changes in the management of LLP or not. Every LLP has to mandatorily file Annual returns and financial statements with the Ministry even if they are not doing any business. It is compulsory requirement of law that even NIL returns should be filed. We at Ebizfiling makes it easy and convenient for you to file your annual returns.
Late Filing Penalty if LLP Form 11 is not filed
A penalty of Rs.100 per day is applicable if Annual Return is not filed within the due date i.e 31st May.
For your easy understanding, please see below example:
If ABC Services LLP, incorporated on 01/04/2017 (FY 2017-18) is having capital Contribution of Rs. 1 Lakh, it will have to incur following filing fees on given dates:
- Filed on 30/05/2018: Rs.50
- Filed on 30/06/2018:Rs.50 + Rs.3,000 (Additional Fee for Delay of 30 Days)
- Filed on 30/10/2018:Rs.50 + Rs.15,200 (Additional Fee for Delay of 152 Days)
Accordingly, the penalties will keep on increasing till the date of actual filing of return.
FAQs on LLP Form 11
1. What is LLP Form 11?
LLP Form 11 is an Annual Filing Form; to be filed with ROC every year. It is Annual Return of the LLP. This Form contains details in respect to the number of Partners, Designated Partners, Body Corporate as Partner, and Amount of contribution obligation and actually received from Partners, Designated Partners and summary of Partners and Designated Partners as on 31st March of the period for which annual return is being filed.
2. What are the requirements for filing the Annual Return and what shall be the Form 11 Attachment?
- Digital Signature of Both Designated Partners and knowledge of basic details of the LLP.
- If the total contribution of partners of LLP exceeds Rs. 50 Lakhs or Turnover of LLP exceeds Rs. 5 Crore, certification by Practicing Company Secretary will be Mandatory.
- List of Companies/ LLPs in which Partners or Designated Partners are Directors/ Partners.
3. What is Form 11 Due date for 2019?
For the Financial year ending 31st March 2019; LLP Form 11 due date is 30th May 2019.
Note: In view of LLP Settlement Scheme, 2020, the Due date for LLP Form 11 is considered to be 31st December, 2020. Hence, Form 11 cam be filed till 31.12.2020 without any late filing fees or penalties.
4. Who are exempt from Filing Form 11 LLP?
LLPs incorporated on or after 1st October 2017 are exempted from filing Form 11 for the financial year ended 31st March 2018. However, they may voluntarily file Form 11.
5. Who should file Form 11?
Every LLP existing or incorporated on or before 30th September 2018 shall have to file Form 11 before 30th May 2019.
6. What are the Form 11 filing Fees?
Filing Fees for Form 11 depend on upon the Capital Contribution structure of the LLP. Get in touch with us to calculate your correct fees.
7. Can Form 11 of LLP be revised once it has been filed?
No. There is no such option to revise Form 11 once filed. Hence, utmost care must be taken while filing the form.
8. What shall be the Penalty for non-filing of Annual Return?
If LLP fails to file form within the prescribed time, it is liable to pay fine of Rs. 25,000 which may be extended to Rs. 5,00,000. Delayed filing will also lead to severe additional fees.
Note: In view of LLP Settlement Scheme, 2020, the LLPs can file all the pending Annual returns for previous and current years without any late filing fees.
9. Are there any other compliances to be done for LLP?
Every LLP is required to prepare and close its accounts until the 31st March every year. LLP Form 8 is to be filed by at least two Designated Partners with the Registrar within 30 days after completion of six months of Financial Year. Accordingly, 30th October is the last date for filing annual accounts every year. Know more here.
Also Read: LLP Annual Filing
10. How can I remove partner from LLP?
To add or remove a partner from LLP, the consent of other partners must be obtained, which is followed by a change in the LLP Agreement and application to MCA to approve the changes. The application to MCA must be filed within 30 days of effective date of the change.
Recommended – How to add or remove partner from LLP